Government has reiterated its commitment to support the beverage industry through appropriate policies.
According to a Deputy Minister of Trade and Industry, Michael Okyere Baafi, government is implementing initiatives to cushion small and medium enterprises as part of the industrialisation agenda.
However, these benefits will only apply to companies that sign up under government’s flagship programmes including One District One Factory (1D1F).
Speaking at the launch of this year’s Ghana Beverage Awards, Mr. Okyere Baafi said, “those under the 1D1F programme have certain incentives like a 5-year-tax-holiday. When a company is under this programme, it is exempted from the payment of import taxes. Those who also seek loans from our participating financial institutions (PFIs), government subsidises 10% of the interest to cushion those companies,” he said.
Global Alliance Media together with the Ministry of Tourism, Arts and Culture launched this year’s Ghana Beverage Awards.
Speaking on the sidelines, Deputy Minister for Tourism, Mark Okraku Mantey, emphasized the importance of the beverage industry to the tourism sector.
“The tourism sector cannot survive without the beverage industry. It is so because tourists – both local and international – would be at places and would like to quench their thirst or drink either a soft drink or an alcoholic beverage. Situations like these are the variables in the value chain of selling tourism hence the beverage industry cannot be sidelined,” he stated.
Ghana’s commercial beverage industry has become increasingly competitive in recent years and several small producers have entered the market, with growth driven by urbanisation, increased brand-awareness and a growing middle class.
The Ghana Beverage Awards is special ways of celebrating the industry alongside with its players. This year’s event is themed “Inspiring excellence in Ghana’s beverage industry.”
Applications for nominations are open till 7th February, 2022.
- Court of Appeal Judge to be investigated for ‘suspicious ruling’
- Ras Nene confronts Achimota Mall security for stopping his team from filming
- Ghana returns to gold top spot as output jumps 32%
- Gold for Oil policy cornering BDCs – Dr. Ofori
- The Multimedia Group’s Lead Camera Technician, Modestus Zame laid to rest
- Tourists watch Russian man get devoured by shark on Egypt beach
- 2022/23 GPL final day: Medeama and Bechem title tug of war, Hearts of Oak’s relegation threat
- Playback: Burial service of The Multimedia Group’s Lead Camera Technician Modestus Zame
- Minority warns against turning Green Ghana Day events into corruption schemes
- ‘Spiritualist’ on trial for allegedly defrauding client of GHȼ85,000
- Vice President Bawumia has never held British or any other citizenship – Gideon Boako
- Life lounge with Edem Knight-Tay: Only because she is a woman
- I’ve been forced out over Partygate report – Boris Johnson
- 2023 AFCONQ: Chris Hughton replaces injured Alexander Djiku with Kasim Adams
- Media Coalition Against Galamsey frustrated at non-prosecution of Akonta Mining directors
- ISSER recommends adoption of electric vehicles to achieve a low-carbon transport sector
- Prof Frimpong Boateng is a role model for fighting ‘galamsey’, follow his examples – German Ambassador urges Ghanaians
- Special Prosecutor is guest on Newsfile on Saturday, June 10
- Unemployment in Ghana is highest among female youth – ISSER report reveals alarming disparities
- GrEEn project plants 2,000 trees in Ashanti and Western regions
- Asantehene leads tree planting in Kumasi as part of Green Ghana Day initiative
- Johnnie Walker Black Label and Red Label ‘step out of boxes’
- Sankalp West Africa Summit 2023 on entrepreneurship slated for June 12
- French Open 2023: Novak Djokovic through to final after Carlos Alcaraz injury
- Man Utd owners spoke to PSG chairman about Sheikh Jassim bin Hamad Al Thani’s bid